Lots in Mount Washington neighborhood, Los Angeles
When searching for inexpensive property in Los Angeles, (laughable, I know), I came across a neighborhood called Mount Washington. It has a great school district, low crime rate, close proximity to down town and other trendy neighborhoods. It's a little underdeveloped with lot's of open lots ready for new construction. The prices for these lots range from around 18k-80k. Does anyone know why it's so inexpensive and underdeveloped? From some preliminary research it looks like an up and coming neighborhood: http://la.curbed.com/2016/1/28/10872040/hottest-neighborhood-los-angeles-2016-mt-washington-housing-prices
Any thoughts?